Illinois § 19-14 Validity of indebtedness-Validity of bonds

Illinois Statutes

§ 19-14 — Validity of indebtedness-Validity of bonds

Illinois·Topic EDUCATION·Ch. 105 SCHOOLS·Act 105 ILCS 5/ School Code.·Art. Article 19 - Debt Limitation - Bonds - Territory Liable - Refunding Bonds

Purchasers of such bonds shall not be obligated to inquire into the validity of the indebtedness funded, and bonds issued under sections 19-8 through 19-11 shall be the valid and binding obligations of the school district, notwithstanding the fact that the bonds, together with existing indebtedness, either in whole or in part, exceed any statutory debt limitation in force at the time the bonds are issued.

Free access — add to your briefcase to read the full text and ask questions with AI

Purchasers of such bonds shall not be obligated to inquire into the validity of the indebtedness funded, and bonds issued under sections 19-8 through 19-11 shall be the valid and binding obligations of the school district, notwithstanding the fact that the bonds, together with existing indebtedness, either in whole or in part, exceed any statutory debt limitation in force at the time the bonds are issued.

Illinois § 19-14 (Validity of indebtedness-Validity of bonds) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.